Gig Economy & Freelance strategies

5 plays in this category. Each one covers the mechanics, who it fits, and the estimated impact — then generates a deep dive against your own numbers.

• Gig Economy & Freelance

  Solo 401(k) for Uber / DoorDash / Instacart Drivers

  Full-time gig drivers set up Solo 401(k) — defer $23K + 25% profit-share, potentially $50K+/yr into retirement tax-deferred.

  $5K–$15K/yr federal tax + tax-deferred growth
• Gig Economy & Freelance

  Standard Mileage vs Actual Expense — Annual Election on Gig Vehicle

  Rideshare/delivery drivers compare 67¢/mi standard vs actual (gas+depreciation+insurance) — pick larger each year.

  $1K–$5K/yr differential
• Gig Economy & Freelance

  §199A QBI Deduction on 1099 Gig Income — 20% Off the Top

  1099/Schedule C gig income qualifies for 20% Qualified Business Income deduction below the SSTB phase-out.

  20% × marginal rate on net gig income = $2K–$10K/yr
• Gig Economy & Freelance

  Hobby-Loss Defense (§183) — Prove Profit Motive for Loss-Year Deductions

  New gig workers with early-year losses defend deductibility by satisfying §183 profit-motive factors — 9-factor test.

  Preserve $5K–$30K/yr in loss deductibility
• Gig Economy & Freelance

  Home Office + Augusta Stack for Freelancers

  Freelancer with S-corp deducts home office via accountable plan + rents home to S-corp 14 days/yr for meetings — double dip.

  $10K–$40K/yr in combined tax benefits